December S&P Futures: Support today is at 1384. The market has rallied to 1393.75 so far today. I think the S&P’s are about to start a period of sideways action from which will develop a break of 20-30 points. In any case I expect to see a 1415 print later this year.
December Bonds: The market is trading above what I thought was resistance at 110-24. I won’t turn bullish however unless this moves carries above 111-08 and stays above 111-00. In the meantime I still expect to see the bonds trade in the 107-108 zone within a few weeks.
December 10 Year Notes: Resistance today is at 107-12. I think the market is headed down into the 104-16 to 105-16 zone over the next few weeks.
Euro-US Dollar: Resistance today is 126.80. I still think that the Euro is headed down to 123.50.
Dollar-Yen: The yen should soon reach 121.00. Support today is at 118.50. I expect to see the yen at 130 next year.
December Crude: The market should rally into the 62.00 to 63.00 zone before turning lower again.
December Gold: I think I misjudged gold’s immediate trend. I now think the market will head up to 613 or so before beginning its drop to 545 and below.
December Silver: I think I misjudged silver’s immediate trend. I now think the market will continue up to 1230 before starting its drop to below 900.
Google: GOOG will soon reach its initial 507 target and then move on to its higher 564 target. Support is at 462.
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